CARACAS, Dec 21 - Venezuela Petrocedeno oil upgrader will restart in the next few days and other troubled oil upgraders in the Orinoco extra-heavy crude region will be fixed in the new year, the oil minister said on Monday.
"We will start 2010 with all our upgraders in good shape and we will not have any production problems," he said. One of the upgraders, Petrocedeno, would restart in the "next few days" after being offline for maintenance, he said.
In the last three months, state oil company PDVSA has been forced for weeks to stop three of the projects nationalized in 2007, which upgrade the tar-like oil from fields adjoining the northern edge of the Orinoco River into exportable crude.
The stoppages have slashed output at the units. [ID:nN17195241]
PDVSA has blamed the unplanned stoppages at the 1990s-built Petroanzoategui, Petrocedeno and Petropiar upgraders on obsolete equipment inherited from former owners, inadequate prenationalization maintenance and design hitches.
Venezuela often misses project and maintenance deadlines.
Speaking at a summit with Chinese officials in Caracas, Ramirez said Venezuela was still looking to China for partners in a planned 400,000 barrel-per-day (bpd) refinery at the town of Cabruta farther up the Orinoco River. The estimated joint investment was $6 billion, he said.
State oil company PDVSA announced plans to build Cabruta in 2005 and Ramirez said China's Sinopec Group (600028.SS) (0386.HK) had shown interest in the project
He also said Venezuela had invited another Chinese company, CNOOC (0883.HK), to take part in a number of oil projects, including the Boyaca 3 field in the Orinoco extra-heavy crude region, he said.
PDVSA will focus on developing the Orinoco region in 2010, finalizing bilateral agreements and a bidding round for the giant Carabobo field, Ramirez said.
President Hugo Chavez kicked Exxon (XOM.N) and Conoco Phillips (COP.N) out of the Orinoco upgrader projects for refusing to accept the minority stake required to remain in the projects under nationalization.
Chevron (CVX.N), Britain's BP (BP.L)(BP.N), France's Total (TOTF.PA) and Norway's Statoil (STL.OL) accepted the more limited terms.
"We will start 2010 with all our upgraders in good shape and we will not have any production problems," he said. One of the upgraders, Petrocedeno, would restart in the "next few days" after being offline for maintenance, he said.
In the last three months, state oil company PDVSA has been forced for weeks to stop three of the projects nationalized in 2007, which upgrade the tar-like oil from fields adjoining the northern edge of the Orinoco River into exportable crude.
The stoppages have slashed output at the units. [ID:nN17195241]
PDVSA has blamed the unplanned stoppages at the 1990s-built Petroanzoategui, Petrocedeno and Petropiar upgraders on obsolete equipment inherited from former owners, inadequate prenationalization maintenance and design hitches.
Venezuela often misses project and maintenance deadlines.
Speaking at a summit with Chinese officials in Caracas, Ramirez said Venezuela was still looking to China for partners in a planned 400,000 barrel-per-day (bpd) refinery at the town of Cabruta farther up the Orinoco River. The estimated joint investment was $6 billion, he said.
State oil company PDVSA announced plans to build Cabruta in 2005 and Ramirez said China's Sinopec Group (600028.SS) (0386.HK) had shown interest in the project
He also said Venezuela had invited another Chinese company, CNOOC (0883.HK), to take part in a number of oil projects, including the Boyaca 3 field in the Orinoco extra-heavy crude region, he said.
PDVSA will focus on developing the Orinoco region in 2010, finalizing bilateral agreements and a bidding round for the giant Carabobo field, Ramirez said.
President Hugo Chavez kicked Exxon (XOM.N) and Conoco Phillips (COP.N) out of the Orinoco upgrader projects for refusing to accept the minority stake required to remain in the projects under nationalization.
Chevron (CVX.N), Britain's BP (BP.L)(BP.N), France's Total (TOTF.PA) and Norway's Statoil (STL.OL) accepted the more limited terms.
